Sales Quantum Leap Through Neuro-Marketing

Neuromarketing applies neuroscience to the marketing field. It looks at how consumers' brains work and what insight we can use to promote brands at the promotional and product design levels.?

Neuromarketing adds a scientific dimension to marketing and advertising. It is based on laboratory experiments using the scientific method to learn about the relationship between the brain and buyer decisions.

?Neuro-marketing: Captivating an Audience

?Marketing is the act of presenting companies, brands, and products in such a manner that they get noticed and ultimately produce sales. This process involves market research and advertising. Unlike sales, marketing focuses on a general audience more than an individual buyer.

?Neuro-marketing relies on neuroscience for enlightenment about how the brain functions regarding deciding what it likes and doesn't like and what gets its attention and what doesn't

Neuromarketing is a new field of marketing which uses medical technologies such as functional Magnetic Resonance Imaging (fMRI) to study the brain's responses to marketing stimuli; the combination of neuro and marketing implies the merging of two fields of study (neuroscience and marketing). Neuromarketing is to market what neuropsychology is to psychology. While neuropsychology studies the relationship between the brain and human cognitive and psychological functions, neuromarketing promotes the value of looking at consumer behaviour from a brain perspective.

?Neuromarketing is the scientific study of how the brain responds to branding and advertising. Neuromarketing uses insights from:

• ?·????????Neuroscience
• ·????????Behavioural economics
• ·????????Social psychology

?These insights are applied to measure and improve the effectiveness of different facets of marketing, including:

• ?·????????Marketing practices
• ·????????Product Branding
• ·????????Product design

?The brain is responsible for all our consumer behaviours. To function correctly, it needs to use much energy. Even though the brain is only 2% of our body mass, it burns nearly 20% of our energy. Most of the functions we need to go through a day are managed by the brain below our level of consciousness.

?Neuromarketing is taking the world by storm and has been utilized by almost every major company in some way or other. Despite its widespread influence on the marketing world, many people do not know precisely what neuromarketing is or how it can be used effectively.

The progression of neuroscience is bringing about a whole new level of neuro-marketing. Before, marketing experts knew the colours blue and green were conducive to presenting a product as fresh and clean. Still, now the exact procedure the brain goes through when processing that information can be pinpointed.

Since neuroscience has determined that emotions initiate in the cerebral hemisphere or, in MacLean's model, in the paleomammalian brain, marketers now know to target that brain area to generate their desired response.

?On the other hand, the rational part of the neo mammalian brain is where rationalizing takes place. Logical information in marketing is presented to that area of the brain, such as prices and value. Interestingly, not so long ago, the nonmammalian brain was responsible for more buying decisions than it is today.

?Several decades ago, consumers were more concerned with getting a great bargain than they are today, which was their primary objective when buying a product. The tide has shifted, and consumers are more emotionally driven. Value and price still play a role, but in general, it is considerably less of a factor than they used to be. Wise marketers keep on top of the trends and know what part of the brain to focus on accordingly.

?Neuro-marketing is best when appealing to the brain's rational and emotional parts. However, because 90% of decisions are emotionally based, savvy marketers determine that more emphasis should be placed on the emotional presentation than on the rational.?

An example of rational and emotional-based neuro-marketing is when a brand is advertised for its great value, affordable price, and emotional experience buying it will bring.

?Overall, neuromarketing is still a nascent industry. Many companies working in the space are a step behind the curve, making it hard for industry leaders to establish legitimacy. As the field progresses and technology evolves, neuro marketers will continue demonstrating their ability to impact marketing efforts in unprecedented ways and generate a higher ROI than any other form of market research. Until the rest of the world catches up, it's up to marketers to determine which neuromarketing companies are worth the investment.?